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TheSun 2008-12-10 Page18 Middle East Buyers Eye Malaysian Property Market
TheSun 2008-12-10 Page18 Middle East Buyers Eye Malaysian Property Market
Middle East
DECEMBER 9, 2008 1,105.84 8,395.87
0.79 66.82
INDICES CHANGE
FBMEMAS 5,454.28 (- 25.56)
COMPOSITE 835.17 (- 3.11)
INDUSTRIAL 2,000.19 (+ 5.54)
CONSUMER PRODUCT
INDUSTRIAL PRODUCT
CONSTRUCTION
TRADING SERVICES
FINANCE
PROPERTIES
271.17
66.23
156.30
113.47
6,431.35
500.34
(- 0.82)
(+ 0.29)
(+ 2.56)
(- 0.26)
(- 73.48)
(- 0.58)
buyers eye Malaysian
property market
PLANTATIONS 3,765.39 (- 2.15)
MINING 241.15 (- 6.08)
FBMSHA 5,650.20 (+ 8.42)
FBM2BRD 3,940.95 (+ 0.73)
TECHNOLOGY 13.26 (- 0.05)
TURNOVER VALUE
529.023mil RM791.054mil KUALA LUMPUR: Malaysia’s marginally greater increase
property market is experiencing in traffic from foreigners than
increasing interest from Middle locals which Qureshi believes
Share prices mixed at close Eastern and Eastern buyers, “shows a continued healthy
HEAVYWEIGHTS Sime Darby rose 10 sen Former according to thinkproperty. level of foreign interest in
to RM5.10, Tenaga eased five sen to RM5.90, newsman my. However, the traditional Malaysian property”.
Maybank declined 15 sen to RM5, MISC rose etches his foreign investors are shying Traffic from foreign
25 sen to RM8.60 while Bumiputra-Commerce away on the back of property countries increased by
lost 35 sen to RM5.55. name in market corrections in their own 195% from January 2008 to
Volume on the Main Board increased to education markets. November 2008 compared
438.054 million shares valued at RM774.383 pg 21 Asim Qureshi, CEO of with a 191% increase from
million versus 263.395 million units worth thinkproperty.my, said: Malaysian users during the
RM505.355 million previously. “Each of the top five regions same period.”
Turnover on the Second Board rose to in terms of visits earlier this Qureshi commented:
32.736 million units worth RM10.273 million year (Singapore, UK, the US, “It is interesting to see the
compared with Friday’s close of 21.829 million Australia, and Hong- kong) now emergence of Qatar in
shares valued at RM6.832 million. make up a smaller proportion the top 15 and increased
Volume on the Mesdaq market declined to of total visitors to the website. interest from the UAE, which
19.809 million shares valued at RM3.060 million This is not surprising as all supports the view that there
compared with the previous closing volume five regions have seen property is an increasing amount of
of 25.217 million units worth RM3.771 million. corrections or crashes deepen Arab interest for property in
– Bernama in their domestic property Malaysia. The widespread
markets. However, it is availability of Islamic finance
a little surprising that, makes Malaysia particularly
the proportionately attractive for Arab investors.
fewer visitors from Qureshi also noted
these five regions has that “India and China’s
been more than offset disproportionate increase in
by the emergence of visitors is a positive signal for
more visitors from other future property investment
regions such as India, inflows.
China, Qatar and UAE.” Both countries are not
Singaporeans only set to become the new
account for just over powerhouses of the world but
one third of all foreign they also have strong cultural
visitors. Overall, the and lingual connections to
website has seen a Malaysia. – Bernama